The company launched the C10 Index and a crypto treasury aiming for $500M-$1B, starting with a $30M purchase.
Faraday Future, the California EV maker, has revealed a new strategy with plans to link its AI-powered mobility platform with Web3 and cryptocurrency.
The company is betting that this mix could reshape both the auto industry and digital finance.
At an event in Pebble Beach on August 16, Faraday unveiled its new “EAI + Crypto” Dual-Flywheel and Dual-Bridge strategy. The plan merges its Embodied AI (EAI) technology with blockchain and crypto, aiming to bridge Web2 and Web3 while opening new business opportunities in mobility.
This makes Faraday one of the first U.S.-listed companies to connect real-world business operations with blockchain technology.
A central part of the plan is the EAI Vehicle Chain, which will enable:
The ultimate goal is to create a more open and decentralized mobility economy.
Faraday also launched the C10 Index, which tracks the world’s top 10 cryptocurrencies (excluding stablecoins) in real time on its website and app.
The company is also starting a C10 Treasury, aiming to invest $500million-$1 billion in crypto, with an initial $30 million purchase. Using an 80/20 passive-active strategy, the treasury targets 3-5% returns to fund innovation, stock buybacks, and growth.
Over time, they hope that “it could reach tens of billions in size.” Moreover, it is also considering an ETF based on the index.
“The next decade could be a super long bull cycle for the crypto market,” said Ian Calderon, FF Co-Creation Officer and Founding Board Member of the California Blockchain Working Group.
Despite its ambitious roadmap, Faraday Future has been facing issues with delayed production and regulatory challenges. In July, it received a Wells notice from the SEC after a three-year probe into its 2021 SPAC merger.
It also posted a $48.1M net loss in Q2, slightly better than last year. Its shares are currently trading at $2.58, down 7% over the past day.
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